Rowan College Of Nj Co-Op Assn Inc in Glassboro, New Jersey (NJ)

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Rowan College Of Nj Co-Op Assn Inc
Employer Identification Number (EIN)210721844
Name of OrganizationRowan College Of Nj Co-Op Assn Inc
In Care of NameJoseph Scully
Address201 Mullica Hill Drive, Glassboro, NJ 08028
ActivitiesMutual ditch, irrigation, telephone, electric company or like organization
SubsectionEducational Organization
Ruling Date06/1958
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2013
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$12,544,993
Amount of Income$11,727,933
Form 990 Revenue Amount$11,727,933
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: University or Technological Institute


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Amount of income in 2013: $11,727,933
Rowan College Of Nj Co-Op Assn Inc: 

 $11,727,933
Other organizations performing similar types of work: 

 $136,725,850

Assets in 2013: $12,544,993
Rowan College Of Nj Co-Op Assn Inc: 

 $12,544,993
Other organizations performing similar types of work: 

 $239,530,668

Expenses in 2002: $10,237,322
Rowan College Of Nj Co-Op Assn Inc: 

 $10,237,322
Other organizations performing similar types of work: 

 $107,808,210

Income to expenses ratio in 2002: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2002: 100.0%
Rowan College Of Nj Co-Op Assn Inc: 

 100.0%
Other organizations performing similar types of work: 

 85.4%

Grants share in income in 2002: 1.3%
Rowan College Of Nj Co-Op Assn Inc: 

 1.3%
Other organizations performing similar types of work: 

 9.1%

Financial snapshot ($)

Revenue for 2002

Assets at end of 2002

Functional Expenses for 2002 ($)

Income-Producing Activities for 2002

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200020012002
Total revenue$14,036,432$11,266,447$11,727,933
Contributions, gifts, grants, and similar amounts received$153,364$153,364$153,364
Contributions to donor advised funds
Direct public support$0$0$0
Indirect public support$0$0$0
Government contributions (grants)$153,364$153,364$153,364
Program service revenue including government fees and contracts$13,852,718$11,080,713$11,544,884
Membership dues and assessments$0$0$0
Interest on savings and temporary cash investments$0$0$0
Dividends and interest from securities$0$0$0
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0
Gross amount from sales of assets other than inventory$0$0$0
Less: cost or other basis and sales expenses$0$0$0
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0
Less: cost of goods sold$0$0$0
Other revenue$30,350$32,370$29,685
Total expenses$13,776,042$9,705,176$10,237,322
Program services$13,776,042$9,705,176$10,237,322
Management and general$0$0$0
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$9,493,111$11,054,382$12,544,993
Excess or (deficit) for the year$260,399$1,561,271$1,490,611
Net assets or fund balances at beginning of year$9,232,721$9,493,111$11,054,382
Other changes in net assets or fund balances$0$0$0
Statement of Functional Expenses (for 2002)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$10,237,322$10,237,322$0$0
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$1,717,949$1,717,949$0$0
Pension plan contributions not included above$32,235$32,235$0$0
Employee benefits not included above$154,241$154,241$0$0
Payroll taxes$108,875$108,875$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$120,285$120,285$0$0
Telephone$15,301$15,301$0$0
Postage and shipping$7,535$7,535$0$0
Occupancy$1,089,729$1,089,729$0$0
Equipment rental and maintenance$135,520$135,520$0$0
Printing and publications$6,462$6,462$0$0
Travel$15,327$15,327$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$1,020,042$1,020,042$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$5,813,821$5,813,821$0$0
Balance Sheets
200020012002
Total assets$31,741,799$32,341,808$32,895,526
Cash - non-interest-bearing$0$0$0
Savings and temporary cash investments$12,525,739$7,547,868$6,146,088
Accounts receivable less allowance for doubtful accounts$153,722$120,283$121,542
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$746,891$902,820$1,061,089
Prepaid expenses and deferred charges$0$0$0
Investments - publicly-traded securities
Investments - other securities$0$0$518,027
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$0
Land, buildings, and equipment less accumulated depreciation$17,743,055$23,227,335$25,048,780
Other assets, including program-related investments$572,392$543,502$0
Total liabilities$22,248,688$21,287,426$20,350,533
Accounts payable and accrued expenses$1,599,506$1,075,795$788,686
Grants payable$0$0$0
Deferred revenue$204,182$216,631$206,847
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$20,445,000$19,995,000$19,355,000
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$0
Total liabilities and net assets/fund balances$31,741,799$32,341,808$32,895,526
Total net assets or fund balances$9,493,111$11,054,382$12,544,993
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200020012002
Total revenue$14,036,432$11,266,447$11,727,933
Total revenue, gains, and other support per audited financial statements$14,036,432$11,266,447$11,727,933
Other expenses$0$0$0
Net unrealized gains on investments$0$0$0
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$0$0$0
Other revenue$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200020012002
Total expenses$13,776,042$9,705,176$10,237,322
Total expenses and losses per audited financial statements$13,776,042$9,705,176$10,237,322
Other revenue$0$0$0
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$0$0$0
Other expenses$0$0$0
Investment expenses$0$0$0
Other$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2002)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$29,685$0$11,698,248
Program service revenue
Program service revenue 1000000$000$0$2,638,464
Program service revenue 2000000$000$0$584,154
Program service revenue 3000000$000$0$2,514,786
Program service revenue 4000000$000$0$5,960,844
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue713900$29,68500$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2002)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2002)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2002)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
199920002001
Total$0$0$13,883,067
Gifts, grants, and contributions received$0$0$153,364
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$13,561,123
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$51,938
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$116,642
Lobbying Expenditures by Electing Public Charities (for 2002)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2007)
IncomeExpensesNet
Total$0$0$27,770
Gross receipts or sales less returns and allowances$27,770$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$27,770
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2007)
Total deductions$29,000
Compensation of officers, directors, and trustees$29,000
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$1,230
Unrelated business taxable income before net operating loss deduction$1,230
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$1,230
Specific deduction$0
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Number of organizations performing similar types of work
Alaska1
Alabama4
Arkansas1
Arizona2
California36
Colorado5
Connecticut9
District of Columbia6
Delaware2
Florida10
Georgia10
Hawaii2
Iowa7
Illinois19
Indiana6
Kansas4
Kentucky4
Louisiana4
Massachusetts19
Maryland7
Maine2
Michigan11
Minnesota5
Missouri9
Mississippi1
North Carolina11
North Dakota1
Nebraska2
New Hampshire3
New Jersey12
New York37
Ohio20
Oklahoma5
Oregon5
Pennsylvania29
Rhode Island3
South Carolina2
Tennessee6
Texas20
Utah1
Virginia11
Vermont3
Washington9
Wisconsin8
West Virginia2
International20
Total396

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